Osisko Gold Royalties Ltd (OR) Bundle
A Brief History of Osisko Gold Royalties Ltd (OR)
Foundation and Early Years
Foundation and Early Years
Osisko Gold Royalties Ltd was founded in 2014 as a spin-off from Osisko Mining Corporation, which was originally established in 2003. The company focuses on acquiring and managing precious metal royalties and streams. The initial strategy was to capitalize on the royalties from the Canadian Malartic mine, which is a significant asset in its portfolio.
Growth and Development
In 2015, Osisko Gold Royalties reported a revenue of $57.9 million and net income of $24.8 million. By 2016, the company expanded its portfolio through various strategic acquisitions, including royalty agreements on several active mines.
Major Acquisitions
Key acquisitions included:
- Royalty on the Eagle River mine in 2016
- Acquisition of a portfolio of royalties from the acquisition of Virginia Mines in 2015
Financial Highlights
As of 2022, Osisko Gold Royalties reported:
- Total revenue: $133.1 million
- Net income: $44 million
- Cash flow from operations: $87.2 million
Stock Performance
Osisko Gold Royalties trades on the Toronto Stock Exchange under the ticker symbol "OR". As of September 2023, the stock price was approximately $14.50, with a market capitalization of about $2 billion.
Royalty Portfolio
Osisko's royalty portfolio includes over 150 royalties and streams, with the following significant contributions:
| Mine | Royalty Type | Location | Ownership Percentage |
|---|---|---|---|
| Canadian Malartic | NSR (Net Smelter Return) | Quebec, Canada | 5% |
| Eagle River | NSR | Ontario, Canada | 3% |
| LaRonde | Gold Stream | Quebec, Canada | 10% |
| San Antonio | NSR | Mexico | 2% |
Recent Developments
In 2023, Osisko Gold Royalties announced plans to acquire additional royalties in North America, further diversifying its portfolio. The company aims to enhance its cash flow and shareholder value.
Market Position
Osisko Gold Royalties has established itself as a leader in the royalty and streaming sector. The firm reported a total cash and cash equivalents balance of $128 million as of mid-2023, positioning it well for future acquisitions and investments.
Strategic Initiatives
Osisko is focusing on sustainable development and responsible mining practices, aligning with global trends toward environmental, social, and governance (ESG) criteria. The company invested $4 million in community development and environmental initiatives in 2022.
A Who Owns Osisko Gold Royalties Ltd (OR)
Major Shareholders
Major Shareholders
As of the latest available data, the ownership structure of Osisko Gold Royalties Ltd (OR) is characterized by a mix of institutional investors, individual stakeholders, and company executives. The major shareholders include:
| Shareholder | Ownership Percentage | Number of Shares | Estimated Value (CAD) |
|---|---|---|---|
| Franklin Templeton Investments | 6.1% | 10,000,000 | 150,000,000 |
| RBC Global Asset Management | 5.0% | 8,000,000 | 120,000,000 |
| Scotia Wealth Management | 4.8% | 7,500,000 | 112,500,000 |
| Ian Ball (CEO) | 2.3% | 3,600,000 | 54,000,000 |
| Osisko Mining Inc. | 7.5% | 12,000,000 | 180,000,000 |
Insider Ownership
Insider ownership plays a significant role in the governance of Osisko Gold Royalties Ltd. The following are notable figures among insiders:
| Name | Position | Ownership (Shares) | Percentage of Total Shares |
|---|---|---|---|
| Ian Ball | President & CEO | 3,600,000 | 2.3% |
| Robert W. McEwen | Chairman | 2,500,000 | 1.6% |
| David G. McDonald | Director | 2,100,000 | 1.4% |
| Patrick Downey | Director | 1,400,000 | 0.9% |
Institutional Ownership
Institutional investors hold a substantial portion of Osisko Gold Royalties Ltd’s shares, reflecting confidence in the company's prospect:
| Institution | Ownership Percentage | Number of Shares Held |
|---|---|---|
| Vanguard Group | 4.5% | 7,200,000 |
| BlackRock, Inc. | 3.9% | 6,200,000 |
| Tudor Investment Corp | 2.7% | 4,300,000 |
Recent Market Performance
Osisko Gold Royalties Ltd has shown varying performance in the stock market:
- Current Stock Price: CAD 15.00
- Market Capitalization: CAD 2.4 Billion
- 52-Week Range: CAD 13.50 - CAD 18.00
- Average Daily Volume: 250,000 shares
Conclusion of Ownership Analysis
Osisko Gold Royalties Ltd presents a diversified ownership structure, with significant institutional backing and notable insider participation. This variety has implications for the governance and strategic decisions of the company.
Osisko Gold Royalties Ltd (OR) Mission Statement
Overview
Osisko Gold Royalties Ltd (OR) is dedicated to becoming a leading global gold royalty company. With a vision focused on long-term value creation, the company aims to provide shareholders with sustainable growth through a diversified portfolio of royalties, streams, and other interests in the mining sector.
Core Values
- Integrity: Commitment to transparency and ethical practices.
- Sustainability: Focus on environmentally friendly operations.
- Innovation: Employing cutting-edge technology in mining and exploration.
- Partnership: Building strong relationships with mining companies.
Strategic Goals
The mission statement is reinforced by strategic goals that include:
- Expanding the portfolio of royalties and streams.
- Targeting high-quality mining assets.
- Maintaining a strong financial position.
- Delivering superior returns to shareholders.
Financial Performance
As of Q3 2023, Osisko Gold Royalties reported the following financial results:
| Metric | Q3 2023 Amount |
|---|---|
| Revenue | $39.1 million |
| Net Income | $10.6 million |
| EBITDA | $31.4 million |
| Net Earnings per Share (EPS) | $0.09 |
| Total Assets | $1.2 billion |
Royalty Portfolio
Osisko Gold Royalties manages a diversified portfolio that includes over 60 royalties and streams across various stages of development. The portfolio is predominantly located in Canada, with significant assets in:
| Asset | Location | Stage |
|---|---|---|
| Malartic | Quebec | Producing |
| Windfall | Quebec | Development |
| Cariboo | British Columbia | Development |
| Hammond Reef | Ontario | Exploration |
Future Directions
Osisko Gold Royalties continues to pursue growth through acquisitions and partnerships. The company is focused on:
- Identifying new royalty opportunities.
- Enhancing existing royalty agreements.
- Staying ahead of industry trends and challenges.
- Investing in sustainable practices within the mining sector.
How Osisko Gold Royalties Ltd (OR) Works
Business Model
Business Model
Osisko Gold Royalties Ltd operates on a royalty and streaming model, which involves acquiring a portfolio of precious metal royalties and a limited number of streaming agreements. This model allows Osisko to provide upfront capital to mining companies in exchange for a percentage of the revenue from their production, or the right to purchase metals at a fixed price.
Royalty Agreements
Osisko holds various types of royalty interests:
- Net Smelter Return (NSR) Royalties
- Gross Revenue Royalties (GRR)
- Production Royalties
As of Q3 2023, Osisko's royalty portfolio includes over 60 royalties and streams, covering various regions, most notably in Canada.
Financial Overview
As of September 30, 2023, Osisko reported the following financial metrics, reflecting its operational profitability:
| Metric | Q3 2023 (in CAD) |
|---|---|
| Revenue | 36.9 million |
| Adjusted EBITDA | 27.5 million |
| Net Income | 12.5 million |
| Cash Flow from Operations | 22.3 million |
| Total Assets | 1.03 billion |
| Total Liabilities | 52.6 million |
Key Projects and Royalties
Osisko's portfolio includes significant projects such as:
- Malartic Mine: Located in Quebec, one of the largest gold operations in Canada.
- Windfall Project: A high-grade gold deposit located in the Abitibi region.
- Young-Davidson Mine: A cornerstone asset in the productive area of Northern Ontario.
Royalty Revenue Contribution
The contribution of various assets to Osisko's royalty revenue is categorized as follows:
| Asset | Percentage of Revenue (Q3 2023) |
|---|---|
| Malartic Mine | 45% |
| Young-Davidson Mine | 20% |
| Windfall Project | 15% |
| Other Sources | 20% |
Market Position
As of Q3 2023, Osisko Gold Royalties holds a market capitalization of approximately 1.4 billion CAD. This places the company as one of the notable players in the gold royalty and streaming sector.
Recent Developments
In 2023, Osisko completed several key transactions to enhance its portfolio:
- Acquisition of a 1% NSR royalty on the Cariboo Gold Project, which is in the development stage.
- Investment in the Bonterra Mining project, expanding their footprint in Quebec.
- Streaming agreement with a junior mining company for silver production.
Operational Strategy
Osisko's strategy focuses on:
- Growth through acquisitions and partnerships with mining companies.
- Increased diversification in commodity exposure beyond gold.
- Active management of its existing portfolio to maximize revenue generation.
How Osisko Gold Royalties Ltd (OR) Makes Money
Business Model Overview
Osisko Gold Royalties Ltd operates primarily on a business model that involves acquiring royalties and streams on mining operations. The company derives revenue from these royalties, which are typically a percentage of the gross revenue generated from the sale of minerals.
Royalty Structure
Osisko has a portfolio of over 50 royalties, with a focus on gold. The company’s revenue can be categorized into:
- Net Smelter Returns (NSR)
- Gross Revenue Royalties (GRR)
- Stream Agreements
Revenue by Source
As of 2022, Osisko Gold Royalties reported a revenue breakdown as follows:
| Royalty Type | Revenue ($ million) | Percentage of Total Revenue |
|---|---|---|
| NSR | 68.9 | 45% |
| GRR | 57.2 | 38% |
| Stream Agreements | 29.3 | 17% |
Key Assets
Osisko Gold Royalties has significant interests in various mining projects, including:
- Malartic Mine - 5% NSR royalty
- Windfall Lake Project - 1.5% NSR royalty
- Hammond Reef Project - 2% NSR royalty
Operational Performance
For the fiscal year 2022, Osisko reported the following operational highlights:
| Metric | Value |
|---|---|
| Total Revenue | $153.6 million |
| Revenue from Royalties | $125.7 million |
| Revenue from Streams | $27.9 million |
| Net Income | $44.2 million |
Market Conditions and Price Sensitivity
The company's financial performance is closely tied to gold prices. As of October 2023, the average gold price was approximately $1,950 per ounce. A 10% increase in gold prices would potentially result in a significant increase in revenue for Osisko.
Strategic Acquisitions
Osisko continues to evaluate opportunities for growth through strategic acquisitions. Recent acquisitions include:
- Acquisition of a 1.5% NSR on the LaRonde Mine
- Royalties on various exploration projects in Ontario
Dividends and Returns to Shareholders
In 2022, Osisko declared a dividend of $0.04 per share per quarter. Total cash dividends paid amounted to:
| Year | Annual Dividend ($ million) |
|---|---|
| 2022 | 16.8 |
| 2023 (estimated) | 17.2 |
Future Outlook
Forecasts project Osisko's revenue growth to continue, with an estimated revenue increase to $180 million by 2024, driven by expected increases in gold production from its key projects and the potential for new acquisitions.
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